By Nichola Saminather and Wayne Cole SINGAPORE/SYDNEY (Reuters) - The euro fell to a 20-month low on Monday and investors fled riskier assets after Italian Prime Minister Matteo Renzi said he would resign following a stinging defeat on constitutional reform that could destabilize the country's shaky banking system. European stock markets are also set for a weak start, with Italy underperforming as investors brace for turbulence and political crisis in the euro zone's heavily indebted third-largest economy. Financial spreadbetter IG Markets expects the EuroSTOXX 50 to open down 0.6 percent, and Germany's DAX and Britain's FTSE to start the day 0.4 percent lower.
By Henning Gloystein SINGAPORE (Reuters) - Oil prices fell by one percent on Monday as a higher U.S. rig count unsettled markets amid nagging concern that output cuts, planned as part of concerted action between producer club OPEC and Russia, might not be as big as initially anticipated. International Brent crude futures were trading at $53.95 per barrel at 0751 GMT, down 51 cents, or almost 1 percent, from their last close. West Texas Intermediate (WTI) crude futures were at $51.18 a barrel, down 50 cents, or 1 percent.
By Makiko Yamazaki TOKYO (Reuters) - Japan's Panasonic Corp is in talks to buy European automotive light maker ZKW Group, accelerating its push into the automotive electronics market, a person familiar with the matter said. An acquisition of ZKW would expand Panasonic's automotive lineup, which currently centers on batteries and navigation systems, as it shifts its focus to corporate clients to escape price competition from lower-margin consumer electronics manufacturers. Panasonic said in a statement the reported deal was not something it had announced, and declined to comment further.